Non-life insurers register 7.2% growth in premium collection in January

The non-life insurers have posted an increase of 7.2% in their collection of combined new premium collection at Rs 17,225.75 crore in the month of January of the current fiscal which was at Rs 16,076.28 crore in the year-ago period, reveals the data from the IRDAI. Among the insurance companies, 25 general insurers records a collective premium of Rs 14,643.26 crore in January, registering a growth by 2.2% from the year ago period, the data further states. Meanwhile, the seven stand-alone private sector non-life insurers registered a 28% up in collective premium income at Rs 1,530.75 crore in the same month. The Agricultural Insurance Company of India and ECGC Ltd registered 92% growth in total premium at Rs 1,051.73 crore in January. Cumulatively, the premium during April-January of this fiscal for non-life insurance companies grew by 14.52% to Rs 1.59 lakh crore.